Deutsche Bank Wealth Management will now be offering regulated mortgages to its private banking clients in the UK.
The product will be available to clients who want to buy houses in the country and borrow £3m or more at competitive LTVs and interest rates.
Soon, the wealth manager will expand the offering to allow clients to buy houses in nine other jurisdictions, including France, Italy and Spain.
It will provide mortgage refinancing and equity release, as well as being open to “dry lend”, in which it will offer large mortgages without requiring assets under management.
This is for customers who wish to build a wider wealth management relationship.
Michael Morley, head of Deutsche Bank Wealth Management in the UK (pictured above), said: “This offering is a gamechanger for Deutsche Bank Wealth Management in the UK and demonstrates our commitment to this market.
“Our sophisticated clients are increasingly coming to us looking for higher-value borrowing for principal private residences, high-value buy-to-let properties and commercial buildings, here.
“We’ll now be able to meet the full spectrum of their needs in the UK, putting our deep international experience and investment banking capabilities to work on their behalf.”
Deutsche Bank Wealth Management has recently bolstered its team in London to build up its capabilities in mortgage lending.
It appointed Saydam Salaheddin as head of real estate for Europe and James Lockyer as head of UK regulated mortgages.
Justin Minien has also joined the team as head of mortgage brokers, and will support Matthew Spencer, head of intermediaries.
Balaji Prasanna, global head of lending & deposits at Deutsche Bank Wealth Management, added: “Our strength in providing lending and liquidity solutions is a key differentiator for our business and I am confident that this decisive step into real estate lending will give us another significant way to engage with our clients and provide market leading solutions that few competitors can match.”
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